South Korea’s cosmetics exports are on track to hit another record high this year, powered by surging global demand and a widening market reach that now spans 205 countries.
According to the Korea Customs Service on Friday, cosmetics exports totaled $8.52 billion in the first nine months of the year, up 15.4% from a year earlier, notching the highest level for any January-to-September period on record.
Exports in the third quarter alone jumped 17.6% year on year to $3 billion, marking the ninth consecutive quarter of growth and setting a new quarterly record.
Customs officials said that since early 2024, cosmetics exports have broken previous highs every quarter, underscoring the continued global strength of Korean beauty products.
With exports typically rising toward year-end, this year’s total is expected to surpass last year’s full-year record, when the annual figure topped $10 billion for the first time.
K-BEAUTY EVOLVES INTO A GLOBAL PHENOMENON
The latest figures highlight how K-beauty has evolved into a global consumer phenomenon, driven by innovative product design, digital marketing and the halo of Korean pop culture.
With exports now reaching a record 205 countries, the sector is emerging as one of Korea’s most resilient and globally competitive industries, analysts said.
By product category, basic skincare items, such as toners and lotions, made up 41.7% of total exports in the first three quarters, followed by other cosmetics, including sunscreens and wrinkle-care sticks at 25.5%, and color makeup products at 15.4%.
The customs agency said every major segment posted a best-ever performance in the January-September quarter.
The US remained the top destination, accounting for 19.7% of exports, followed by China at 18.5% and Japan at 9.7%.
Despite a slowdown in sales to China, one of Korea’s top export markets, the expansion into new territories has offset the decline.
“Diversification into new markets and stronger partnerships with existing buyers have sustained export growth, even as demand patterns shift,” said a customs official.
Write to In-Soo Nam at isnam@hankyung.com
Joel Levin edited this article.
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